MarketAxess (NASDAQ:MKTX) was downgraded by equities research analysts at Buckingham Research from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
A number of other research firms also recently issued reports on MKTX. BidaskClub raised shares of MarketAxess from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 10th. Zacks Investment Research downgraded shares of MarketAxess from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. ValuEngine raised shares of MarketAxess from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 3rd. Barclays increased their target price on shares of MarketAxess from $218.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, Rosenblatt Securities initiated coverage on shares of MarketAxess in a research report on Monday, April 15th. They set a “neutral” rating and a $255.00 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $234.14.
Shares of MKTX stock opened at $327.80 on Wednesday. The stock has a market cap of $12.59 billion, a PE ratio of 71.73, a P/E/G ratio of 12.96 and a beta of 0.18. MarketAxess has a 1-year low of $172.09 and a 1-year high of $342.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.82 and a current ratio of 10.82.
MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The business had revenue of $124.49 million for the quarter, compared to analyst estimates of $125.43 million. MarketAxess had a net margin of 39.84% and a return on equity of 29.88%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. Analysts forecast that MarketAxess will post 5.16 earnings per share for the current fiscal year.
In related news, Director Stephen P. Casper sold 102 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $337.30, for a total transaction of $34,404.60. Following the completion of the sale, the director now owns 13,157 shares of the company’s stock, valued at approximately $4,437,856.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $281.14, for a total transaction of $5,622,800.00. Following the sale, the chief executive officer now directly owns 1,006,289 shares of the company’s stock, valued at approximately $282,908,089.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,591 shares of company stock valued at $7,719,158. Corporate insiders own 3.52% of the company’s stock.
Large investors have recently modified their holdings of the business. Executive Wealth Management LLC acquired a new stake in MarketAxess in the fourth quarter valued at approximately $27,000. Berman Capital Advisors LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth approximately $30,000. Enlightenment Research LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth approximately $42,000. Pearl River Capital LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth approximately $43,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of MarketAxess during the first quarter worth approximately $54,000. 99.19% of the stock is owned by institutional investors.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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